Topgolf Callaway Brands Corp. (NYSE:MODG) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund reduced its position in Topgolf Callaway Brands Corp. (NYSE:MODG) by 3.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 77,230 shares of the company’s stock after selling 2,684 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Topgolf Callaway Brands were worth $607,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Geode Capital Management LLC grew its position in shares of Topgolf Callaway Brands by 0.7% during the third quarter. Geode Capital Management LLC now owns 3,255,232 shares of the company’s stock worth $35,749,000 after buying an additional 22,003 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Topgolf Callaway Brands by 8.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,995,667 shares of the company’s stock worth $21,912,000 after buying an additional 148,451 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in shares of Topgolf Callaway Brands by 14.7% during the fourth quarter. Harbor Capital Advisors Inc. now owns 1,886,496 shares of the company’s stock worth $14,828,000 after buying an additional 241,755 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Topgolf Callaway Brands by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 686,480 shares of the company’s stock worth $5,396,000 after buying an additional 19,257 shares in the last quarter. Finally, LGT Capital Partners LTD. acquired a new position in shares of Topgolf Callaway Brands during the third quarter worth about $6,588,000. 84.69% of the stock is owned by institutional investors and hedge funds.

Topgolf Callaway Brands Price Performance

Shares of NYSE MODG opened at $6.23 on Tuesday. The company has a current ratio of 1.93, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37. Topgolf Callaway Brands Corp. has a twelve month low of $6.11 and a twelve month high of $16.89. The stock has a 50 day moving average of $7.83 and a two-hundred day moving average of $9.02. The stock has a market cap of $1.15 billion, a P/E ratio of -77.87 and a beta of 1.70.

Topgolf Callaway Brands (NYSE:MODG) last issued its quarterly earnings data on Monday, February 24th. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.07. Topgolf Callaway Brands had a positive return on equity of 1.20% and a negative net margin of 0.29%. The company had revenue of $924.40 million during the quarter, compared to analysts’ expectations of $1.13 billion. On average, research analysts forecast that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MODG shares. Truist Financial lowered their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Jefferies Financial Group raised Topgolf Callaway Brands from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $11.00 to $13.00 in a research report on Thursday, January 2nd. JPMorgan Chase & Co. lowered their price target on Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, January 23rd. The Goldman Sachs Group lowered their price target on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $11.00 price target (down from $16.00) on shares of Topgolf Callaway Brands in a report on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $13.91.

Topgolf Callaway Brands Profile

Topgolf Callaway Brands Corp. designs, manufactures, and sells golf equipment, golf and lifestyle apparel, and other accessories in the United States, Europe, Asia, and Internationally. The Topgolf segment operates Topgolf venues equipped with technology-enabled hitting bays, bars, dining areas, and event spaces, as well as Toptracer ball-flight tracking technology; and World Golf Tour digital golf game.